Course dashboardSoru 21Answer the following question according to the information given below:HenüzSuppose that Ayşe allocates all her income on food and shelter. The price of food is 2 TL andthe price of shelter is 4 TL per unit. Suppose further that the following equations represent thecevaplanmadı4 üzerindenmarginal utilities of food and shelter, respectively.işaretlenmişMUF = 24 - 2FP Soruyu işaretleMUŞ = 80 – 8Swhere F and S represent the quantity of food and shelter consumed, respectively and MUp andMUş are measured in million utils. Also, Ayşe's income is 48 TL.How many units of food should she purchase to maximize her total satisfaction?Lütfen birini seçin:O A. 20O B. 7O C.16O D. 12O E. 8ÖNCEKİ SAYFASONRAKİ SAYFAO Arahuraya yazın

21) Given the marginal utilities and prices, the maximum utility would be attained when MUf/Pf=…

Answer the following question according to the information given below: Suppose that Ayşe allocates all her income on food and shelter. The price of food is 2 TL an the price of shelter is 4 TL per unit. Suppose further that the following equations represent t marginal utilities of food and shelter, respectively. MUF = 24 - 2F MUS = 80 – 8S where F and S represent the quantity of food and shelter consumed, respectively and MUF a MUs are measured in million utils. Also, Ayşe's income is 48 TL. How many units of food should she purchase to maximize her total satisfaction?

Answer the following question according to the information given below: Suppose that Ayşe allocates all her income on food and shelter. The price of food is 2 TL an the price of shelter is 4 TL per unit. Suppose further that the following equations represent t marginal utilities of food and shelter, respectively. MUF = 24 - 2F MUS = 80 – 8S where F and S represent the quantity of food and shelter consumed, respectively and MUF a MUs are measured in million utils. Also, Ayşe's income is 48 TL. How many units of food should she purchase to maximize her total satisfaction?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 1SCQ: Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can...

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Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can either call her on the land-line phone for five cents per minute or he can drive to see her, at a roundâ€”trip cost of 2 in gasoline money. He has a total of 10 per week to spend on staying in touch. To make his preferred choice, Jeremy uses a handy utilimometer that measures his total utility from personal visits and from phone minutes. Using the values in Table 6.6, figure out the points 011 Jeremys consumption choice budget constraint (it may be helpful to do a sketch) and identify his utility-maximizing point.
Praxilla, who lived in ancient Greece, derives utility from reading poems and from eating cucumbers. Praxilla gets 30 units of marginal utility from her first poem 27 units of marginal utility from her second poem 24 units of marginal utility from her third poem, and so on, with marginal utility declining by three units for each additional poem. Praxilla gets six units of marginal utility for each of her next three cucumbers consumed, five units of marginal utility for each of her next three cucumbers consumed, four units of marginal utility for each of the following three cucumbers consumed, and so on, with marginal utility declining by one for every three cucumber consumed. A poem costs three bronze coins hut a cucumber costs only one bronze coin. Praxilla has 18 bronze coins. Sketch Praxillas budget set between poems and cucumbers, placing poems on the vertical axis and cucumbers on the horizontal axis. Start off with the choice of zero poems and 18 cucumbers, and calculate the changes in marginal utility of moving along the budget line to the next choice of one poem and 15 cucumbers. Using this step-by-step process based on marginal utility, create a table and identify Praxillas utilityâ€”maximizing choice. Compare the marginal utility of the two goods and the relative prices at the optimal choice to see if the expected relationship holds. Hint: Label the table columns: 1) Choice, 2} Marginal Gain from More Poems, 3) Marginal Loss from Fewer Cucumbers, 4) Overall Gain or Loss, 5) Is the previous choice Optimal? Label the table rows: 1) 0 Poems and 18 Cucumbers, 2) 1 Poem and 15 cucumbers, 3) 2 Poems and 12 cucumbers, 4) 3 Poems and 9 Cucumbers, 5) 4 Poems and 6 cucumbers 6) 5 Poems and 3 Cucumbers, 7) 6 Poems and 0 Cucumbers.
Would you expect total utility to rise or fall with additional consumption of a good? Why?
Take Jeremys total utility information in Exercise 6.1, and use the marginal utility approach to confirm the choice of phone minutes and round trips that maximize Jeremys utility.
The following table shows Madison's utility from consuming popcom and Coke Suppose that Madison han income of $21.00, the price of popcom is 6.00 and the price of Coke in $4 50 FMadson wants to maiire her y how much popcom and Coke should she buy? ITT Popcorn Marginal Unity 192 144 Coke Marginal Uity 144 100 72 36 18 Quantity 48 24 12 Madison should buy boxes of popcom and cans of Coke Enter your reponses as negers)
Course dashboard Soru 5 Answer the following question according to the information given below: Henüz Suppose that Ayşe allocates all her income on food and shelter. The price of food is 2 TL and cevaplanmadı the price of shelter is 4 TL per unit. Suppose further that the following equations represent the marginal utilities of food and shelter, respectively. 4 üzerinden 13 işaretlenmiş MUF = 24 - 2F 19 P Soruyu işaretle MUS = 80 – 8S 25 where F and S represent the quantity of food and shelter consumed, respectively and MUF and MUs are measured in million utils. Also, Ayşe's income is 48 TL. Uy How many units of shelter should she purchase to maximize her total satisfaction? Kal Lütfen birini seçin: O A. 20 O B.7 O C 12 O D. 16 O E 8 SONRAKİ SAYFA ÖNCEKİ SAYFA
NIVERSITY DURAI Consider the following data describing the change in Nora's utility when she consumes various levels of Nuts and chocolate per week, the price per portion for the considered goods are respectively AED 20 and AED10. Nora has a budget equal to 160 per day to spend on her snack. Q Nuts Total UtilityQ Chocolate Total Utility ChocolateMU Nuts MU ChocolateMU/ AEDMU/AED MRS Chocolate Nuts Nuts 40 1 28 72 52 100 3. 72 4 124 88 144 5. 102 160 6. 114 7 172 122 1. Complete the table above by calculating the marginal utility, the marginal utility per dollar spent and marginal rate of substitution for each good. 2. Identify the potential set of equilibrium points Where MUI/P1=MU2/P2 Nuts Chocolate Income 2. 2. 6.
The table below demonstrates the total utility Terrence derives from eating differentquantities of plates of thanksgiving dinner. Calculate the marginal utility for each platethen graph the total utility and marginal utility (with total utility graph above the marginalutility graph – lining up the Qty).
If we have money, we buy goods and services to satisfy our needs. In economics, thesatisfaction that we get from the consumption of goods and services is called utility. Usea utility graph to explain what happen to the utility when you keep on increasing thenumber of units consumed. Also explain what happens to the utility when you keep onincreasing the number of units consumed. Also explain what happens to the additionalutility (i.e. additional satisfaction) when you increase your consumption by one unit
Mylie’s total utility from singing the same song over andover is 50 utils after one repetition, 90 utils after tworepetitions, 70 utils after three repetitions, 20 utils afterfour repetitions, 250 utils after five repetitions, and 2200utils after six repetitions. Write down her marginal utilityfor each repetition. Once Mylie’s total utility beginsto decrease, does each additional singing of the songhurt more than the previous one or less than the previousone?